Stock Market Updates: GIFT Nifty Signals A Negative Start After US Tariffs Dampen Sentiment – News18
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Indian stock markets are expected to face volatility following a sell-off in global markets after Trump tariffs
Sensex Today
Sensex Today: Indian stock markets are expected to face volatility following a sell-off in global markets after US President Donald Trump unveiled broad tariffs on most imports to the United States from several of its trading partners on Wednesday, April 2.
Rupak De, Senior Technical Analyst at LKP Securities, noted that the Nifty opened lower due to weak global cues but quickly recovered. “Market sentiment remains positive as Indian equities showed resilience despite the global downturn driven by Trump’s tariff announcement. Short-term support for the Nifty is seen at 23,100, and as long as it stays above this level, the trend should remain strong. On the upside, it may move towards 23,430, and a decisive break above this level could fuel a more substantial rally,” he said.
Global Market Overview
US markets saw a sharp decline on Thursday, with the S&P 500 returning to correction territory after its largest one-day loss since 2020. The index dropped 4.84%, closing at 5,396.52, while the Dow Jones Industrial Average plunged 1,679.39 points, or 3.98%, to end at 40,545.93. The Nasdaq Composite fell 5.97%, finishing at 16,550.61.
Additionally, futures tied to the Dow Jones Industrial Average dropped 77 points, or 0.2%, on Thursday night, while S&P 500 futures fell 0.1%, and Nasdaq 100 futures were slightly lower.
In Europe, the STOXX 600 lost 2.57%, the UK’s FTSE declined 1.55%, and Germany’s DAX dropped 3.01%.
Japan’s Nikkei fell 2.46% in the Asia-Pacific region, and the Topix lost 3.18%. South Korea’s Kospi dropped 0.29%, although the Kosdaq rose 0.59%. Australia’s S&P/ASX 200 dropped 1.42%. Hong Kong and mainland China markets are closed today for the Qingming Festival.
